The National Bank of Ukraine is taking the necessary measures to ensure that the hryvnia begins to strengthen.
The growth of the exchange rate is associated with an increase in demand for the dollar, as well as a decrease in foreign exchange earnings.
This was reported by Deputy Head of the NBU Yuriy Heletiy, reports “24 Kanal”.
“On the situation on the currency market. We have observed a weakening of the exchange rate for two months, which was primarily due to the expansion of net demand for currency. The growth in demand was affected by the expansion of budget expenditures. For example, some of them materialize in additional demand for currency. The exchange rate was also affected by the currency liberalization that was carried out in May. Along with the increase in demand, there was a decrease in the supply of currency,” he said.
All this time, the NBU has been taking tactical measures to change a certain approach to interventions after analyzing the market. The regulator declares its readiness to continue working to achieve this goal, using the entire arsenal of available tools.
The Central Bank predicted an increase in the supply of foreign currency. This growth is expected to be due to the sale of the new harvest and the export of goods through the sea corridor. In addition, international aid is expected to provide additional support for the NBU's interventions.
Recall that the official dollar exchange rate exceeded UAH 41 for the first time in history and amounted to UAH 41.04 per dollar.
The National Bank canceled the fixed hryvnia exchange rate: how the dollar exchange rate will change
